Forclosure & Property Taxes

[riverposie]

I am in Pennsylvania. I received a first forclosure notice in May, 2004.I have not paid on my mortgage since Oct. 2003 and am now negotiating a Sign the deed to the lender for payment. I walked away from the house & property in April 2004 and also changed my residence and address...I recently received all my property & school taxes for the property to be forclosed on. I AM NOT GOING TO PAY ANY OF THOSE TAXES EVER. What can they do to me? i am told that they wont do anything for 3 years and then at that time they will forfeit this house for the taxes owed and sell it. If this is true, what can they do if the house is already forclosed on and already sold or whatever?

 

[abezon]

The house will be sold subject to the taxes & the bank or new owner will pay them. However, the bank could come after you for reimbursement. Be sure to cover this in your negotiations.

 

[Esquire555]

the bank can sue you if they come up short. This is called a deficiency judgment. Make sure you get a release from the bank and any and all lien holders.

 

[riverposie]

they wont sue i was told

Thanks, but i was told by several lawyers including my own that that will never happen. they told me no bank is going to spend tons of money to find me( i walked away from the house and no forwarding address) and face the humilation and costs to them, to find out that i own a 27 year old house trailer in a park, a 15 year old row boat, and a 12 year old boat and an 11 year old car with 177,000 miles on it. they went on to say that banks rarely sue anyone unless they suspect they own large amounts of property...anywhey my lawyer told me, if they would try (which they dont and wont) i will just simply file bankruptcy and keep it all anywhey....my lawyer already told th bank that if they dont take the deed as all and final payment, then we will file bankrupcy and make life very miserable fot them.....and maybe even keep the house and property they are forclosing on...besides if they try that, i will change all the titles to someone elses name and although someome told me this is fraud, i know several people that did this and got away with it because it was too costly to go after the people who now owned the property ot title and these items were long since gone......trashed.... thanks

 

[Esquire555]

the thing is, they dont have to find you, they will just have a judgment against you. Next time you want to buy a house or sell a house, you will eventually have to pay it off. Besides, your credit is going to be ****, you will never be able to get a mortgage, at least under 10%. So I would suggest you negotiate a release from the bank, or refinance to save your house.

 

[riverposie]

We made an intelligent choice for happiness

HI: You have to understand that the reason i walked away from the house is because I chose to...I could have easily kept the payments up , but my wife and i choose to stop paying and walk away .I am 58 years old and was paying $700.00 a month for the next 20 years. I lost my good paying job...se we bought a 27 year old tariler for$300..00 IT IS PAID FOR and we own it..When was the last time you owned your home (not the bank?) So now we have money, the trailer is in better shape and bigger than the house...We dont care about bad credit, we buy everything with cash and have bad credit anywhey...we will NEVER buy another house..we dont want one...we will live and die in this trailer.. we love it...our taxes on the house we are loosing were $2,000.00 a year....here they are $87.00 total.....we dont have a mortgage, we are able to live quite comfortable now and could care less about the house we walked away from (and i was born and raised in that house)...our lawyer told us we were doing the smartest thing we could ever do and that there are tons of people out there that wish they had the guts to do what we are
doing...as a matter of fact, we started something....3 couples (our friends) are also x-steel workers that lost their jobs because it shut down that are now going to walk from their houses too and move into a PAID IN FULL trailer in a park like us.... we are so ahppy now and wont ever buy a thing on credit or bank financed again...we dont have to....we can now live on next to nothing..(NO MORTGAGE) thanks again for the advice...